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Overseas property sales in decline

Sales to the overseas market have been falling month-on-month since June 2019 (with the exception of a small rise in December 2019.) Sales to the overseas market in August accounted for 35% of the total sold during the month.

The total number of property sales to the overseas market during August stood at 199; a fall of 18% compared to the 244 sales achieved in the same month last year.

But it was not all bad news. Sales rose in Famagusta by 30%, while those in Nicosia rose by 8% compared to sales in August last year. However, these rises were more than wiped out by falls 39% in Paphos, 18% in Limassol and 10% in Larnaca.

Source: Cyprus Property News